Airport currency deals take flights

THE late dash for foreign currency at the airport could take a big chunk out of your holiday cash, travellers were warned yesterday.

Making last minute transactions, rather than in the High Street, may hit spending money by 9%. Dearer exchange rates and commission helped to make a huge difference, a survey found.

And confusion over the deals meant many holidaymakers find it hard to know which is best.

Researchers looked at how many euros and dollars could be bought for £100 at 22 airports, compared with the average at independent travel agents. It was found that the High Street yielded €141.4 - 8.6% more than the €130.15 at Doncaster's Robin Hood Airport.

Of the airports, Aberdeen was the best for euros at €137.58, just ahead of Heathrow, Gatwick, Glasgow and Southampton.

Besides Doncaster, the worst were Nottingham East Midlands and Belfast, at about €131. The High Street average for the dollar was €173.8 for £100 - again far more than Doncaster's €159.6. The difference of $14.20 meant 8.9% more on the High Street.

The best airport for dollars was Gatwick, at €167.78 for £100 - marginally ahead of Stansted, Glasgow and Edinburgh-Doncaster was joined at the bottom by Luton, Belfast, Bristol, Cardiff, Leeds Bradford and Liverpool. At all these, £100 bought less than $162.

The research was carried out by the Co-op Travel and Travelcare agency chains, which advised travellers to swop early. Amanda Williams, general manager of Travelcare, said: 'There's no reason why people should pay more at airports. Our research shows that many are being exploited.

'The worst deals can leave you with almost 9% less than some on the High Street - equivalent to £9 in your pocket for every £100 exchanged.'

Foreign exchange giants Travelex run bureaux at most airports. Anthony Wagerman, the firm's head of global retail, said: 'Rates are agreed by Travelex as concessionaires in agreement with the airports as landlords.

'As such there can be variation between the airport and the high street, but Travelex is obliged to ensure that the currencies in all its 85 airport bureaux match at least one of the high street banks.

'When making comparison to the high street it is always possible to find one or two examples where other providers offer better value.

'This can be attributed to the fact that, unlike the High Street, Travelex offers the convenience of a foreign exchange service 24 hours a day on many of its sites.'

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